To link to the entire object, paste this link in email, IM or documentTo embed the entire object, paste this HTML in websiteTo link to this page, paste this link in email, IM or documentTo embed this page, paste this HTML in website

%\\t Mnnthp fuvm^itit
mmm mcmmm
emit
st
See Page 6
For Contest Rules
& Entry Forms ...
\7
\/
Special Automotive Section See Pages 10 & 11
AllThe Trimmings..
See Page 7 For Holiday Recipes ...
SERVING THE PEOPLE OF HUNTLEY SINCE I960
Che
untltp jfarms^itie
HUNTLEY, ILLINOIS
THURSDAY, NOVEMBER 18, 1993 - VOLUME 33, NUMBER 23
USPS 580-360
Local Taxing Bodies Consider School's Proposed TIF II ——
By Tracey Schwartz
More than thirty area teixing body representatives from the Huntley Hre, school, park and library districts, Village of Huntley and Grafton Township, met and discussed the nuts and bolts of a proposed tax increment financing district (TIF II) on 1,500 acres of undeveloped land in Huntley. The proposal comes from the Huntley Consolidated School District #158 board who held the meeting in its administration office last Monday night.
The 1,500 acres within the TIF II boundaries is the residential part of the Prime Group's 2,650 acre master-planned community development recently annexed just south of the Village. School District #158 attorney, AUyn Franke, took on the difficult task of explaining how TIF II in combination with state tax cap legislation, would work to produce revenue for each of the local taxing bodies. He explained that TIF II would be a separate corporate body that has boundaries, receives money, is governed by a ruling board (in this case, the Huntley Village Board), has specific restrictions on how it spends its money, and can exist for possibly 23
years.
The school board's financial advisor, Bob Bright, presented the group with his projections of the estimated dollars received by each of the taxing bodies with and without TIF II. Bright describes TIF II as a "pay as you go program" because there will be no bond issues involved. Huntley Village President James Dhamer who was in attendance, pointed out that TIF II is an entirely different TIF than TIF I which utilizes bond issues.
In addition Bright conservatively estimates more than $63,000,000 in funds generated by TIF II for capital projects to be distrib¬ uted to the taxing bodies. Each taxing body received a series of charts showing these projections.
After the two presentations, a question and answer period followed in which School Board President James Heavey and School District Superintendent Robert Bunt offered additional help in explaining TIF II.
Over the following three days if the Huntley fire, park and hbrary boards agree
continued on page 2
Huntley FFA Wins 12th In National Contest
Members of the Huntley FFA nursery/landscape team placed 12th in the nation, out of 47 teams competing in the National FFA Nursery/Landscape Contest held Nov. 11 & 12 at the 66th National FFA Convention in Kansas City, MO. Huntley team members (1 to r) Joe Pfaff, Ami Hecht and Jamie Ketchmark, accompanied by their advisor/coach, Chet Nelson (far right), were congratulated by a contest sponsor representative, Mike Brocker (far left) of Kubota Tractor Corporation of Compton, CA. Huntley, the smallest school represented in the competition, made an outstanding showing!
Due to the Thanksgiving holiday, The Huntley Farmside's deadline for submitting press releases and advertising will be changed, for next week only, to Monday, Nov. 22, by noon. ' ' ' >.' ' • "

Image was scanned by OCLC at the Preservation Service Center in Bethlehem, PA. Archival Image is an 8-bit greyscale tiff that was direct scanned from original material at 300 dpi. The original file size was 14801 kilobytes.

This material may be protected by U.S. Copyright Law (Title 17 U.S. Code).

Publisher

This Collection was digitized and loaded into CONTENTdm by OCLC Preservation Service Center (Bethlehem, PA) for the Huntley Area Public Library.

Source

Reproduction of library's print newspaper archives

Contributing Institution

Huntley Area Public Library

FullText

%\\t Mnnthp fuvm^itit
mmm mcmmm
emit
st
See Page 6
For Contest Rules
& Entry Forms ...
\7
\/
Special Automotive Section See Pages 10 & 11
AllThe Trimmings..
See Page 7 For Holiday Recipes ...
SERVING THE PEOPLE OF HUNTLEY SINCE I960
Che
untltp jfarms^itie
HUNTLEY, ILLINOIS
THURSDAY, NOVEMBER 18, 1993 - VOLUME 33, NUMBER 23
USPS 580-360
Local Taxing Bodies Consider School's Proposed TIF II ——
By Tracey Schwartz
More than thirty area teixing body representatives from the Huntley Hre, school, park and library districts, Village of Huntley and Grafton Township, met and discussed the nuts and bolts of a proposed tax increment financing district (TIF II) on 1,500 acres of undeveloped land in Huntley. The proposal comes from the Huntley Consolidated School District #158 board who held the meeting in its administration office last Monday night.
The 1,500 acres within the TIF II boundaries is the residential part of the Prime Group's 2,650 acre master-planned community development recently annexed just south of the Village. School District #158 attorney, AUyn Franke, took on the difficult task of explaining how TIF II in combination with state tax cap legislation, would work to produce revenue for each of the local taxing bodies. He explained that TIF II would be a separate corporate body that has boundaries, receives money, is governed by a ruling board (in this case, the Huntley Village Board), has specific restrictions on how it spends its money, and can exist for possibly 23
years.
The school board's financial advisor, Bob Bright, presented the group with his projections of the estimated dollars received by each of the taxing bodies with and without TIF II. Bright describes TIF II as a "pay as you go program" because there will be no bond issues involved. Huntley Village President James Dhamer who was in attendance, pointed out that TIF II is an entirely different TIF than TIF I which utilizes bond issues.
In addition Bright conservatively estimates more than $63,000,000 in funds generated by TIF II for capital projects to be distrib¬ uted to the taxing bodies. Each taxing body received a series of charts showing these projections.
After the two presentations, a question and answer period followed in which School Board President James Heavey and School District Superintendent Robert Bunt offered additional help in explaining TIF II.
Over the following three days if the Huntley fire, park and hbrary boards agree
continued on page 2
Huntley FFA Wins 12th In National Contest
Members of the Huntley FFA nursery/landscape team placed 12th in the nation, out of 47 teams competing in the National FFA Nursery/Landscape Contest held Nov. 11 & 12 at the 66th National FFA Convention in Kansas City, MO. Huntley team members (1 to r) Joe Pfaff, Ami Hecht and Jamie Ketchmark, accompanied by their advisor/coach, Chet Nelson (far right), were congratulated by a contest sponsor representative, Mike Brocker (far left) of Kubota Tractor Corporation of Compton, CA. Huntley, the smallest school represented in the competition, made an outstanding showing!
Due to the Thanksgiving holiday, The Huntley Farmside's deadline for submitting press releases and advertising will be changed, for next week only, to Monday, Nov. 22, by noon. ' ' ' >.' ' • "